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AO to Verify Assessee's Own Funds vs. Interest-Free Advances Before Disallowing Interest Expenses.

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....Addition made on account of diversion of fund - disallowance of interest expenses - there cannot be any disallowance of interest expenses provided the own fund of the assessee exceeds the interest free advance. - AO directed to verify whether the own fund of the assessee exceeds the amount of interest free advances and adjudicate the issue afresh - AT....

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AO to Verify Assessee's Own Funds vs. Interest-Free Advances Before Disallowing Interest Expenses.